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Can Document Imaging Really Save Money?
According to AIIM, Document Management experts report that today up to 90% of all corporate information resides on paper or some type of unstructured format. Utilizing Document Management technology requires little or no organizational change while providing substantial benefits, including cost savings.
Paper Filing System Costs
- The average office spends $20 in labour, filing or retrieving a single document.
- $120 in labour is spent finding a single misfiled document.
- $250 in labour is spent recreating a single lost document!
- $1700 in labour is spent filing four files a day by just one employee
Document Imaging and Document Management solutions deliver the following critical benefits to organizations of any size:
| |
Paper Filing System |
Document Imaging /Management System |
| Document Retrieval |
Can take minutes to days.
Onsite documents (if properly filed / re-filed) are retrieved relatively quickly.
Archived files stored off-site take much longer and cost far greater to retrieve.
Document retrieval is limited to basic file information such as client number, transactions date, etc. |
All documents (working and archived) can be searched and retrieved in seconds from your PC from anywhere in the world via a web connection.
Document retrieval is enhanced.
You are not limited to only key index information but can search every word on every page in your entire document repository. |
| Missing/Lost Documents |
On average 7.5% of all documents get lost and 3% of the remainder get misfled.
Lost documents are costly to reproduce and can have legal ramifications.
Missing documents can take up to 10 times the amount of time to retrieve as properly filed documents. |
Once a document is in the system, it can never become lost.
With proper backup procedures in place, disaster recovery can occur very quickly. |
| Document Filing |
Can take minutes to days.
Requires manual document filing, |
PC-based input and/or automated filing features dramatically reduce filing time. |
| Document Collaboration |
Impossible unless copies are made.
The average documents gets copied 19 times during its life. |
Since the documents are digital, multiple users can access the same file at the same time. |
| Document Output/Delivery |
Mailing physical documents can take days while express courier services can be extremely costly.
Faxing is a better solution but still carries costs and document quality is degraded. |
Instantly print, fax or email documents to anyone in the world.
You can also grant secure, direct access from anywhere in the world with an internet connection. |
| Storage Requirements |
Roughly 1 file cabinet per 10,000 pages stored.
Each cabinet will require roughly 8 square feet of office space (enough for the cabinets footprint with its drawers open.) |
Files reside on electronic media.
On average, 50KB of electronic storage is required per black & white image. This calculates to roughly 20,000 pages per GB or 1 million pages per 50GB. A 50GB hard drive can be purchased for under $50. |
| Security |
Lock and key security only.
Either an individual has physical access or they do not. Inability to set multiple security levels for a single file folder. |
Multiple levels of security to access documents.
Rights-based security levels can be applied so that only specific users can perform specific actions (such as deleting a file). |
| Disaster Recovery |
Inherently vulnerable to acts of man or nature. |
With proper backup procedures in place, off-site copies of the backup can be used to restore a system on new hardware in a very short time frame. |
Coopers & Lybrand (Price Waterhouse Coopers); Chart source: AIIM |
